Richard claims that as a result of the raid and broadcast, his album was put on hold, he became ill as a result of stress which meant he couldn't perform, and his winery business suffered, costing him the estimated £1m.
According to Daily Mail, a source close to Richard said he didn't make the decision "to take on two British institutions lightly", but he wants to ensure they're held accountable and that "no one else should suffer as he did".
"The essence of this is that he does not want anyone who is innocent, like him, to go through what he has experienced in the past two years," the source said.
"He is in the fortunate position of being able to try to do something about this and we hope the judge in due course will find that there has been an unlawful misuse of private information."